Klövern sells residential properties in Västerås

The residential properties now being sold were included as part of the acquisition of a larger group of property holdings from Arvid Svensson, with Klövern taking possession as late as August 2. Following the divestment, Klövern will have nine residential properties in Västerås. The sale is a natural consequence of Klövern’s strategy to focus on commercial premises.

 

“I am very pleased that we have managed to divest the residential properties in Västerås in such a short space of time. The sale creates the financial headroom for future investments with development potential. We hope to be able to announce new acquisitions of strategic interest in the near future,” comments Klövern’s CEO, Gustaf Hermelin.

 

The residential properties, which comprise a total area of 11,000 sq.m., will be vacated on October 15. The purchaser is a local property owner.

 

Nyköping, October 8, 2004.

 

Gustaf Hermelin, President and CEO, tel +46 155-44 33 10, +46 70-560 00 00,

Anders Lundquist, Chief Financial Officer, tel +46 155-44 33 20, +46 70-528 43 33, anders.lundquist@klovern.se

Britt-Marie Einar, Information Manager, tel +46 155-44 33 12, +46 70-224 29 35,

 

 

 

 

Klövern is a listed real estate company active in the Swedish real estate market by acquiring, developing and disposing of properties with a focus on a high return on equity. As at 2 August 2004, the book value of the properties totals approximately SEK 4.0 billion and the rental income on an annual basis is approximately SEK 500 million. The Klövern share is listed on the Stockholm stock exchange, Stockholmsbörsen’s O list Attract 40.

 

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden